Late Tuesday, The Hollywood Reporter claimed that the 22-year-old star -- infamously caught last month cheating on boyfriend Robert Pattinson with the film's married director Rupert Sanders -- "will not be invited to return" to the franchise.

Clarifies a Universal spokesperson to Us: "We are exploring options to continue the franchise and no decisions have been made."

Starring Stewart and Chris Hemsworth in the title roles plus Charlize Theron, the fairy-tale inspired action-fantasy film grossed nearly $400 million worldwide -- making Stewart the only Twilight headline star to see major blockbuster success outside of the vampire franchise.

According to Deadline, one of the possibilities being explored by Universal would be a spinoff starring Aussie hunk Hemsworth, reprising his role as the Huntsman.

Stewart, meanwhile, has been completely M.I.A. since she released her emotional public apology July 25 for her fling with Sanders. "Her friends think she doesn't know how to deal with this," a pal told Us.

Pattinson has kept his game face on, going out in public this past week to promote Cosmopolis.